CCI Greenlights Major Merger and Demerger in Aerospace and Precision Tech
The Competition Commission of India (CCI) has approved the merger of Ring Plus Aqua and Maini Precision Products into JK Maini Precision Technologies and the demerger of its aerospace business into JK Maini Global Aerospace. This transaction, initially approved in March 2024, saw amendments prompting re-approval.
- Country:
- India
The Competition Commission of India (CCI) has given its nod to a significant merger and demerger within the aerospace industry. Ring Plus Aqua and Maini Precision Products will now merge into JK Maini Precision Technologies Ltd, while the aerospace division will demerge into JK Maini Global Aerospace Ltd.
Despite receiving previous approval in March 2024, changes to the transaction structure necessitated a reassessment by the commission, underscoring the evolving nature of major business deals in the sector. The CCI's role is crucial in maintaining fair market practices and ensuring healthy competition.
Ring Plus Aqua specializes in the manufacturing and export of ring gears, flex plates, and water pump bearings. Maini Precision Products provides precision manufacturing for various industries, tailoring products to the design needs of its clients. This merger continues to highlight the active regulatory environment surrounding significant business transactions.
(With inputs from agencies.)
- READ MORE ON:
- CCI
- merger
- demerger
- aerospace
- JKMPTL
- JKMGAL
- Ring Plus Aqua
- Maini Precision
- regulator
- competition
Google News